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Southwest Airlines pays staff extra to get COVID vaccine

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US Airliner Southwest has become the latest big carrier to try to persuade workers into getting vaccinated against COVID-19

Southwest airlines has ramped up efforts to encourage its workforce to receive the vaccine, stating staff that get the jab will receive a pay-bonus while those that are unvaccinated would no longer have access to sick pay for COVID related quarantine requirements.

Southwest says the announcement was unrelated to Joe Biden’s upcoming vaccine mandate for firms and it plans to comply with the order.

Delta, American and United Airlines have all made similar moves recently

In a memo to workers, Southwest stated that those who submit proof of vaccination to the company by 15 November would get 16 hours of extra pay.

“If you have not been vaccinated and choose to do so, this timeline gives you enough time to receive both rounds of a two-series vaccine or the single-dose vaccine,”

the airline wrote.

The US Department of Labor is set to make Covid jabs mandatory at larger private firms and federal employers in the coming weeks, affecting up to 100 million US workers.

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Money

Australian Treasurer and RBA chief clash over economy

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A rare dispute has emerged between Australia’s Treasurer Jim Chalmers and Reserve Bank Governor Michele Bullock over the nation’s economic trajectory.

Governor Bullock argues the economy remains overheated, even as growth data shows recent slowdowns.

Treasurer Chalmers, however, warns that sustained high interest rates are “smashing the economy.”

This debate is critical for Australians, as it will influence the future of interest rates and inflation.

Data shows a mixed economic picture: while inflation is down, it’s still above target, and the jobs market remains historically strong.

Ultimately, deciding who’s right may come down to theory and perspective on economic health.

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Money

Central bank expected to ease interest rates as election nears

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The Federal Reserve is expected to cut interest rates again this week, a move aimed at cooling inflation.

This quarter-point rate cut would bring the benchmark rate to about 4.6%, the second reduction this year.

Analysts expect that additional cuts could come in December, which would benefit borrowers by reducing loan costs.

If Trump were to win the election, economists say his proposals on trade and immigration could reignite inflation.

The Fed is balancing a strong economy and low unemployment with its inflation-calibrated rate cuts.

As Election Day approaches, all eyes are on both the Fed and the presidential race.

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Money

Big Tech pushes AI investments

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Tech giants like Microsoft and Meta are accelerating AI data center spending, with massive capital pouring into these projects.

Microsoft and Meta reported on Wednesday that AI investments are spiking their expenses, while Alphabet announced similar trends.

Amazon, due to report earnings shortly, is expected to mirror these projections, foreseeing further pressure on profit margins.

Wall Street is getting wary of the financial strain, as each company’s stock took a hit this week despite strong quarterly numbers.

Shares of Meta fell over 3%, and Microsoft saw a 6% drop, underscoring Wall Street’s jitters.

“It’s expensive to keep up with AI technology demands,” says GlobalData’s Beatriz Valle, emphasising a competitive race in AI capacity.

The high-stakes investments are starting to test investor patience in Big Tech’s ambitious AI journey.

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